[192 Pages Report] The Global Propylene Glycol Market was valued at 3.32 Billion in 2015, and is projected to reach 4.60 Billion by 2021, at a CAGR of 5.8% from 2016 to 2021. In this report, 2015 is considered as the base year and the forecast period is from 2016 to 2021.

To forecast and analyze the market size (in terms of value and volume) and different submarkets of five regions Asia-Pacific, Europe, North America, South America, and the Middle East & Africa,

To forecast and analyze the market at the country level for each region

To strategically analyze each submarket with respect to individual growth trends and its contribution to the global propylene glycol market

To analyze opportunities in the market for the stakeholders by identifying high growth segments of the global propylene glycol market

To identify significant market trends and factors driving or inhibiting the growth of the market and its submarkets

To analyze competitive developments, such as expansions, joint ventures, new products launches, expansions, and mergers & acquisitions, in the global propylene glycol market

To strategically profile the key market players and comprehensively analyze their growth strategies

This technical, market oriented, and commercial research study of the global propylene glycol market involves the extensive use of secondary sources, directories, and databases (such as Hoovers, Bloomberg BusinessWeek, and Factiva) to identify and collect information. The primary sources mainly include several industry experts from core and related industries and preferred suppliers, manufacturers, distributors, service providers, and organizations related to all segments of the industrys supply chain. After arriving at the overall market size, the total market has been split into several segments. The figure below illustrates the breakdown of the primary interviews based on company type, designation, and region conducted during the research study:

The global propylene glycol market was valued at USD 3.47 Billion in 2016, and is projected to reach USD 4.60 Billion by 2021, at a CAGR of 5.8% from 2016 to 2021. Growing automotive industry in Asia-Pacific and eco-friendly production process of bio-based propylene glycol are expected drive the market during the forecast period.

On the basis of source, the global propylene glycol market is classified into petroleum-based and bio-based propylene glycol. The petroleum-based propylene glycol segment is expected to lead the global propylene glycol market during the forecast period, due to its growing use in the transportation and building & construction industries.

Based on application, the market is segmented into unsaturated polyester resin, food pharmaceuticals & cosmetics, antifreeze & functional fluids, liquid detergents, plasticizers, and others. The unsaturated polyester resin segment is expected to lead the global propylene glycol market during the forecast period, followed by food, pharmaceuticals & cosmetics. Growing building & construction industry, coupled with increasing investments in emerging economies such as China, India, and Brazil for the infrastructural development is driving this segment.

In terms of end-use industry, the market is classified into transportation, building & construction, pharmaceuticals & cosmetics, food & beverage, and others. Transportation is projected to be the fastest-growing end-use industry, due to the growing sales of automobiles. In addition, the increase in the use of propylene glycols in applications such as aircraft deicing fluid, automotive coolants, and hydraulic & brake fluids, is also driving this end-use industry.

On the basis of region, the market is segmented into Asia-Pacific, Europe, North America, Middle East & Africa, and South America. Currently, the Asia-Pacific region is the largest market for propylene glycol. Rapid industrialization and improved living standards is expected to drive the increasing demand for propylene glycol. The region is also projected to be the fastest-growing market from 2016 to 2021. This growth is attributed to the rapidly growing transportation industry in the region.

The major factors restraining the growth of the global propylene glycol market is maturity of petroleum-based propylene glycol. Propylene glycol is a petrochemical that does not differ in grades or specifications between manufacturers (except industrial and USP). Industrial grade propylene glycol is used as a feedstock to manufacture other chemicals; hence it acts as a base feed with little modification at the time of application. This gives manufacturers very little scope for product differentiation. Some of the key players in the global propylene glycol market are The Dow Chemical Company (U.S.), LyondellBasell Industries N.V. (Netherlands), BASF SE (Germany), Archer Daniels Midland Company (U.S.), Global Bio-chem Technology Group Co., Ltd. (China), DuPont Tate & Lyle Bio Products Company, LLC (U.S.), Huntsman Corporation (U.S.), SKC Co., Ltd. (South Korea), Temix International S.R.L. (Italy), and Ineos Oxide (Switzerland) among others.

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